Protesters tried to vandalize the chinese flag. Shery the bank of america boss is optimistic going into 2020 but warns Overleveraged Companies pose a worrying threat. The markets coming online. Sophie . Losses for sydney stocks after a decline for the asx. Bonds rising above 130 basis points, climbing to a july 23 hi. Nikkei futures slightly higher this morning. The kospi potentially building on gains after posting a high on friday amid signs of overheating for the index. We will watch for korean exports data later this morning, another weak print is coming. A nikkei news report japan decided to use export controls on south korea. The president is to meet with xi jinping this monday in beijing. Paul first word news, this is su keenan. Hong kong is back to business as usual monday morning after tense scuffles side Police Officer draw his gun and pointed at protesters. O shots were fired the incident escalated during a rally in the city center. Demonstrators gathered to show support to c
Time to for global exchange. We are going to bring you todays market we would news from all around the world. Our bloomberg voices are on the ground with this mornings top stories. Want to start in japan. Prime ministers shinzo abe and im sick stimulus measures to keep recession at bay. That Package Amount to around 239 billion. Going to me on the phone from hong kong is enda curran. Does this match expectations . What is the read in terms of growth . Enda slightly bigger than expectations, but nonetheless it is an important shift. There has been criticism for some time that the boj has put much run the course in terms of what it can do for japans economy, so economists had been saying more had to be done on the fiscal side. This could help offset a recession. The economy has been hit by natural disasters, by weak exports, and theres a feeling that this money may endure beyond the 202011 picks in japan olympics the 2020 in japan next year. And fresh spending that is leaving markets and
Wide, but the main event is fixed income. Treasury yields at new highs. Lisa the highest levels going back to 2009. Around the globe you are seeing this push upward in yields. Is it because of inflation, because there are not going to be as many buyers for this debt . For is this the wholesale figure out as people capture this yield for a longerterm . Jonathan what a pain. The fx market right now, this might hurt. Lets have a look at the offshore human, taking a move lower. China told state banks to escalate human intervention this week. What is that about . Lisa beside father the lowest level in 15 years. That is as you look at Economic Data coming out that was weaker than expected. The intervention has been settled or growing has been subtle but growing. We heard that the peg was unusually below where it was supposed to be trading in the free market. At what point can china control the narrative through market manipulation . Jonathan lets see if that exit difference. We have been rep
Sonali coming up, Economic Data starting to weaken. U. S. Consumer sentiment falls for the first time in months. Another big investor warns of no rate cuts this year. We begin with the big issue. The feds handle on inflation. January is a bad month. A lot of january effects in the data. The overall story is still the same. We are moving in the right direction on inflation. It is coming down, aching progress. We are on track to get cuts. We know the fed will get cut. It is how many we get. We are in this process of capitulation. The market thinks the average will be more like three cuts. The fed is continuing to tell us data dependency and we are watching that data. We wont be surprised to see march and april core inflation come in weaker. How q2, we will see all of those beginning of the year effects. Talk to me in the spring. Lets start by looking at the twoyear yield. Massive movements. More than 20 basis point move from peak to trough over the course of this week. Beginning the week
for just one second. see if he takes any questions. [ applause ] [ speaking non-english ] we re going to keep following president biden on this trip, but in the meantime, here at home pressure is growing for him to respond after new information revealed that classified documents were found in his private office late last year. and just in to cnn we are learning more about what is in those documents and also about what the attorney merrick garland is doing about them and how lawmakers in both parties are reacting today. president biden has not responded to questions on the issue twice today. you saw him there again with reporters but he will face reporters again later this afternoon and we ll see if he responds then. in the meantime, we have full team coverage here with evan perez and phil mattingly in washington. also with us cnn legal analyst and a former obama white house ethics czar norm eisen. we re getting new information right now about both what is in the documents a